Kim Kardashian

The American celebrity Kim Kardashian has been forced to pay a $1.26 million fine by the Securities and Exchange Commission (SEC).  The fine pertains to her undisclosed promotion of EthereumMax (EMAX) over Instagram. She failed to reveal that she was paid $250,000 to promote the token.  Kim Kardashian Promoting Crypto? Per a statement from the SEC on Monday, Kardashian’s problematic post contained a link to the Ethereum Max website, and instructions for purchasing EMAX tokens.  The Instagram story said Kardashian’s…

Kim Kardashian has allegedly tricked investors into a cryptocurrency scam involving EthereumMax. She is part of a group of celebrities, including Floyd Mayweather Jr. and Paul Pierce, accused of a “pump n’ dump” scheme. They convinced millions of their social media followers into buying the digital coin. Then, once its price inflated, they sold their holdings for a considerable, yet illicit, profit. Some of the victims filed a class-action complaint last Friday in the U.S. District Court for the Central…

The UK financial watchdog FCA has cautioned on the dangers of buying crypto-assets hyped by celebrities like Kim Kardashian. The head of the UK's Financial Conduct Authority (FCA), Charles Randell, criticized Kim Kardashian for promoting an untested cryptocurrency on Instagram. He noted that Ms. Kardashian advertised the little-known cryptocurrency Ethereum max to more than 200 million Instagram followers. Ms. Kardashian did not reveal the amount she got for the advert. However, a 2019 court filing revealed she could earn up to £361,000 for a…